FreshBooks - Top Competitors (Aug 2022)

Shlomi Lavi / updated: Aug 23, 2022

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FreshBooks vs. Alternatives in 2024

Freshbooks competes with other core accounting softwares like Netsuite, Wave Accounting, Zoho Books, and Sage Intacct. We will compare them in specific aspects below;

• Functionality: Freshbooks offers features such as Bank Reconciliation, Billing and Invoicing, Expense Tracking, Payroll Management, Project Accounting, and Tax Management. All its closest alternatives such as Sage Intacct, Netsuite, and Wave Accounting provide all available features in Freshbooks with the addition of CPA Firms, Fixed Asset Management, Purchase Order management, etc. Zoho Books provides all the features in Freshbooks except CPA Firms, Fixed Asset Management, Fund Accounting, and Payroll Management.
• Customers/Industries: Freshbooks target accountants and business owners who are freelancers and self-employed professionals. The software also targets businesses with contractors and employees. In terms of customer base, over 24 million people have used Freshbooks worldwide. Netsuite targets industries in advertising and digital marketing agencies, consulting, education, energy, media and publishing, manufacturing, etc. Netsuite has been used by more than 27,000 customers such as the Second City, Quicken INC., and Land OLakes. Wave accounting targets owners of small businesses and solo entrepreneurs. Zoho Books targets freelancing accountants. Zoho Books is powering thousands of businesses such as Optimized Sense LTD, Instant Data Center, and Empire Aviation Group. Sage Intacct targets industries in manufacturing, wholesale distribution, professional services, chemicals, etc.
• Cost: ITQlick expert cost-rated FreshBooks 1/5 (where 1 is low-cost and 5 is high-cost), meaning that it is low-cost when compared to its closest alternatives. Freshbooks starts at $6 per month and $108 per year. Freshbooks comes with a free trial. Zoho Books start at $2,700 per organization/month and $27,000 per organization/year. The pricing information for Sage Intacct and Wave Accounting is unavailable.
• Cloud-based/On-premise: All the accounting systems mentioned in this review are cloud-based.
• Popularity: Freshbooks has been in operation since 2004 with over 24 million businesses. Netsuite is under the parent company Oracle is a publicly-traded company (NYSE: ORCL) operating since 1977 with 18,000+ customers. Wave Accounting has been in operation since 2009, and Zoho Books since 1996. Freshbooks is more popular than the other alternatives.
• Scalability: Freshbooks can accommodate small businesses owners and self-employed professionals. Netsuite can accommodate small, mid-sized, and rapid growth businesses. Zoho Books can accommodate small to medium-sized enterprises.
• Support: Freshbooks and Zoho books provides customer support features such as Email/Help Desk, FAQs/Forum, Phone Support, Knowledge Base and Chat. Freshbooks and Zoho books do not provide the 24/7 live representative feature. Sage Intacct and Netsuite provide all the customer support features needed for customer satisfaction. Wave Accounting lacks customer features such as Phone Support and 24/7 Live representative.